Now that the Lowe’s project at Jones Ranch off Hwy 4 is back on the radar of the Concord City Planning Commission, the blogging community has been barking about the whereabouts these days of Erica Jones Starky, whose family sold the property after their project, which included a—gasp—Wal*Mart, failed before Concord City Council and Helen Allen’s eagle eye for high fashion.
As for the current credit and mortgage crisis rife with foreclosure, especially in the East County, Erica, on her business blog writes; “The foreclosure market has meant different things to different people, but one thing it has meant for investors is higher rents. There has been an influx of renters into the market where foreclosure rates are high because many simply can’t afford or no longer have the credit to get home loans. This makes it a prime time to start or add to your real estate portfolio. Rents are so strong in many markets, we are finding that investors are covering mortgages with rent and, in some cases, even making a small return. While the conditions in the lending market have made it challenging to get financing for higher priced investments and non-owner occupied homes, there are great bargains to be had for investments under $500,000.”